Refined Products

October 17, 2024

Platts proposes to change Group 1 Base Oils assessments names, specifications, publishing schedule

Platts, part of S&P Global Commodity Insights, proposes to change the current monthly, European Group 1 Base Oils spot assessments names, methodology and publishing schedule, effective Dec. 11, 2024, following feedback from the market.

Assessment names:

Platts proposes to change the names of the following assessments:

Assessment code Current assessment name Proposed assessment name
PLAAC00 150SN Paraffin NWE Group 1 SN150 FOB Europe
PLAAF00 500SN Paraffin NWE spot Hi Group 1 SN500 FOB Europe
PLAAI00 Bright Stock NWE spot Hi Group 1 Bright Stock FOB Europe

In addition, Platts proposes to change the name of the table in which these assessments appear in the Oilgram Price Report from "Monthly spot Lube assessments" to "Weekly spot Base Oil assessments" to reflect the proposed change in frequency of these assessments.

Methodology:

Platts proposes to change the methodology for the above assessments to reflect the following specifications and bases:

Group 1 SN150 FOB Europe (PLAAC00)

ASTM Color Maximum 1.5
Viscosity at 40 degrees Celsius 28-35 millimeters squared per second
Appearance Bright and Clear
Viscosity at 100 degrees Celsius 5.2-5.9 millimeters square per second
Viscosity Index Minimum 95
Flash Point Minimum 200 degrees Celsius
Pour Point Maximum -9 degrees Celsius
Vessel Size 3,000-5,000 mt
Laycan 10-20 days forward loading
Port basis Rotterdam

Group 1 SN500 FOB Europe (PLAAF00)

ASTM Color Maximum 4
Appearance Bright and clear
Viscosity at 40 degrees Celsius 100-125 millimeters squared per second
Viscosity at 100 degrees Celsius 9.5-13 millimeters square per second
Viscosity Index Minimum 93
Flash Point Minimum 230 degrees Celsius
Pour Point Maximum -6 degrees Celsius
Vessel Size 3,000-5,000 mt
Laycan 10-20 days forward loading
Port Basis Rotterdam

Group 1 Bright Stock FOB Europe (PLAAI00)

ASTM Color Maximum 6
Appearance Bright and clear
Viscosity at 100 degrees Celsius 30-35 millimeters square per second
Viscosity Index Minimum 95
Flash Point Minimum 270 degrees Celsius
Pour Point Maximum -6 degrees Celsius
Vessel Size 3,000-5,000 mt
Laycan 10-20 days forward loading
Port Basis Rotterdam

Pricing information with terms, locations, and specifications different from the above may be considered for assessment purposes and could be subject to normalization.

Frequency:

The above Group 1 assessments would be published on a weekly basis in $/mt and would take into consideration price information gathered during the week ahead of the assessment, with indications normalized to the close at 4.30 pm London time each Wednesday. The assessments would reflect the values of physical base oils cargoes at the close of 4.30 pm London time on Wednesdays and would follow a London publishing schedule. When a UK public holiday falls on the planned publishing day, the assessment will be published the day prior to the public holiday.

These assessments would continue to be found in the Oilgram Price Report, on Platts Connect, and on Platts Global and Refined Product alert pages 1146.

Please send any questions, comments, or feedback to europe_products@spglobal.com with a copy to pricegroup@spglobal.com by Nov. 4, 2024.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.